Zumiez (NASDAQ:ZUMZ – Get Rating) updated its third quarter 2022 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.03-$0.18 for the period. The company issued revenue guidance of $220.00 million-$228.00 million, compared to the consensus revenue estimate of $278.62 million. Zumiez also updated its Q3 guidance to $0.03-0.18 EPS.
Analysts Set New Price Targets
A number of brokerages have issued reports on ZUMZ. TheStreet cut shares of Zumiez from a b- rating to a c rating in a research note on Friday, June 3rd. B. Riley cut shares of Zumiez from a buy rating to a neutral rating and reduced their price target for the stock from $42.00 to $25.00 in a research report on Friday. William Blair cut shares of Zumiez from an outperform rating to a market perform rating in a research report on Friday. Finally, StockNews.com cut shares of Zumiez from a buy rating to a hold rating in a research report on Monday, June 6th. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Zumiez has a consensus rating of Hold and a consensus price target of $41.33.
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Zumiez Price Performance
Shares of NASDAQ ZUMZ traded up $1.02 during midday trading on Friday, reaching $27.56. 2,904,080 shares of the stock were exchanged, compared to its average volume of 301,184. Zumiez has a 12 month low of $23.07 and a 12 month high of $55.10. The business has a 50-day simple moving average of $27.08 and a two-hundred day simple moving average of $32.98. The company has a market capitalization of $536.32 million, a price-to-earnings ratio of 8.92 and a beta of 1.51.
Zumiez (NASDAQ:ZUMZ – Get Rating) last issued its quarterly earnings data on Thursday, September 8th. The apparel and footwear maker reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.31). Zumiez had a return on equity of 15.59% and a net
margin of 6.65%. The company had revenue of $219.99 million for the quarter, compared to analyst estimates of $231.50 million. During the same quarter in the previous year, the business earned $1.02 earnings per share. The company's revenue was down 18.1% on a year-over-year basis. Equities research analysts expect that Zumiez will post 3.44 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Zumiez
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its stake in Zumiez by 24.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 160,173 shares of the apparel and footwear maker's stock valued at $4,165,000 after buying an additional 31,860 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in Zumiez in the 2nd quarter valued at $462,000. Millennium Management LLC increased its stake in Zumiez by 49.1% in the 2nd quarter. Millennium Management LLC now owns 135,592 shares of the apparel and footwear maker's stock valued at $3,525,000 after buying an additional 44,652 shares during the last quarter. Renaissance Technologies LLC increased its stake in Zumiez by 134.9% in the 2nd quarter. Renaissance Technologies LLC now owns 302,008 shares of the apparel and footwear maker's stock valued at $7,852,000 after buying an additional 173,415 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Zumiez by 7.0% in the 2nd quarter. Northern Trust Corp now owns 285,120 shares of the apparel and footwear maker's stock valued at $7,413,000 after buying an additional 18,639 shares during the last quarter. 87.11% of the stock is currently owned by institutional investors and hedge funds.
Zumiez Company Profile
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Zumiez Inc, together with its subsidiaries, operates as a specialty retailer of apparel, footwear, accessories, and hardgoods for young men and women. Its hardgoods include skateboards, snowboards, bindings, components, and other equipment. As of February 26, 2022, the company operated 738 stores, including 602 stores in the United States, 52 stores in Canada, 67 stores in Europe, and 17 stores in Australia under the names of Zumiez, Blue Tomato, and Fast Times.
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